"should i stay or should i go?" as they say...

gemma1990_2

so basically i have a CC with Capital One, it's pretty much maxed out, but i am paying it back in little bits and peices(min. payments of £5 as and when i can - usually every 2 weeks).
when i first got the card when i was 18, i would use it for shopping, then pay it off completely asap, i was actually doing well.
then one day things just took a downward spiral, i took out payday loans, maxed out the card, and couldn't afford any creditors any money and then eventually lost my job.
i was on jsa at this point and had letters and phonecalls demanding money but i just couldn't afford it.
then one day, i took my head out of the sand and sorted out payment plans with the loan companies, one i couldn't pay, stopped paying, they didn't hassle me but now i'm paying minimun amounts as and when i can(£5), luckily the interest has been frozen.
but more to the point, what should i do about my credit card? i don't know whether to pay it all of then cancel it, or pay it all off, not use it while doing so then when it is all paid off use it for emergencies only and then pay it off asap.
bear in mind i am still on jsa

BugsyBrowne

At least your actually bothering to reduce the debt even though your on JSA.
Personally you being On JSA and having a credit card don't quite fit well together so I would get shot of the card.

Just keep trying to get a job then you won't need the card for emergencies so much as you'll have your wages.

gemma1990_2

thankyou for answering, yeah i had a hunch i could well be better off without the card while i'm jobless(and pennyless!).